New Delhi, Oct 13 : As the smartphone industry faces acute chip shortage, realme India CEO Madhav Sheth said on Wednesday that the company will make every effort to guarantee that it has enough stock to fulfil the market demand in the festive season. There is a significant amount of latent demand for realme's products in the market, and "we are focused on keeping stock ready to fulfil consumer demand," Sheth, Vice President, realme and CEO, realme India, Europe & Latin America, told IANS in an interaction. Despite the chipset shortage, the fastest-growing smartphone brand has launched products with world-first and India-first processors, such as the MediaTek Helio D810 in the realme 8s 5G and the MediaTek Helio G96 in the realme 8i. The company on Wednesday introduced realme GT NEO 2 5G, which is equipped with the Qualcomm Snapdragon 870 5G Processor, which is the best processor in the segment. "Despite the shortage of processors, memory, display, and other components that has been affecting the smartphone industry globally, realme is dynamic enough to anticipate such a crisis and adjust to the changing environment," Sheth said. "We have already adjusted our product roadmap and adopted new burgeoning suppliers for components, including processors and already with enough stock to meet the surge in demand," he added. The response to realme products has been overwhelming in the ongoing festive quarter, and the company is one of the first to reach 1 million sales units in this festive season. "We have sold more than 170,000 units of realme GT Master Edition 5G in the first round realme festive days sale which helped contribute to a tremendous growth of 1,200 per cent in the Rs 20,000-Rs 30,000 price segment for smartphones," Sheth informed. Since, late last year, the smartphone industry has been battling with chipset scarcity due to a few supply chain hiccups. "We're dedicatedly working with mainstream chipmakers to keep ahead of the curve with new and powerful 5G chipsets. Simultaneously, we are also exploring collaborations with burgeoning chipset manufacturers who can provide processors without compromising performance," Sheth told IANS. He said that they have received an overwhelming response for both realme GT 5G, which comes with the most powerful processor till now and realme GT master edition 5G, with its master design and features has helped us make our ambition come to a successful reality. "The realme GT NEO 2 5G is the very first from the GT NEO series. It is the most powerful in its segment, has an innovative design and comprises all features that compliment at flagship level in the premium mid-range price segment," the realme executive noted. /IANS